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OECD–Ukraine Forum for Investment: Legal Landscape for Doing Business in Ukraine

Kiev, Ukraine, 19 May 2004

This meeting was held within the framework of the follow-up initiative financed by the European Union to encourage decisive steps toward providing a better environment both for foreign investment and local enterprise development. This project is a continuation of work already undertaken and is focused on further improving the legal and financial environment for investment, as well as on stimulating entrepreneurship at local and regional levels.

The purpose of the roundtable discussion was to highlight the main legal issues raised by local and foreign firms in running their daily business based on the results of detailed interviews conducted.

Key issues discussed at the meeting were the potentially conflicting provisions in the Civil and Commercial Law, legislative gaps and impractical provisions in the Company Law, existing mandate and power of the Anti-Monopoly Commission including the prevailing penalties for violations of the Antimonopoly and Unfair Competition Law, and other issues such as the rules on hard currency proceeds from sales and current notarization procedures.

The meeting brought together about 40 legal experts as well as representatives from international organisations (EBRD, World Bank). Other participants included senior policy makers from relevant ministries, private legal firms, local company representatives and investors associations.

A background paper incorporating contributions received from participants will be published and a set of recommendations will be presented to the Ukrainian authorities to support their on-going reform process in this area.